Published On: Mon, Apr 16th, 2018

Bitcoin Price: Is Hype or Substance Now Driving the Trend?

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How do rumors of institutional investment and the return of mainstream media cryptocurrency hype impact Bitcoin price projections?
At last! The days we’ve all been waiting for are back, or so it appears for the moment. The mainstream media hype and euphoria surrounding cryptocurrency have returned and voila, BTC is up nearly 23% in the last 7 days!
Of course, there are more fundamental occurrences happening behind the smokescreen of CNBC hype men shilling coins to millions of viewers but the fact that talking heads are excitedly discussing stratospheric future price projections after the carnage most investors endured during the last 3 months is comforting.
What’s really going on:
Last week the Securities and Exchange Commission (SEC) began to reconsider applications for BTC exchange-traded funds (ETFs).
Rockefeller’s venture capitalist division ‘Venrock’ partnered with Coinfund.
George Soros indicated that Soros Fund Management approved plans to trade cryptocurrencies and similar whispers are being heard from Rothschild.
Stratospheric price projects have returned and so far each one is supported by CNBC’s Brian Kelly. Tim Draper forecasting BTC at $250,000 by 2022, Thomas Lee says $25,000 by the end of 2018 and Dan Morehead of Pantera Capital projects $20,000 by years …

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